Piper Sandler Equities Analysts Increase Earnings Estimates for AtriCure Inc. (NASDAQ:ATRC)

AtriCure Inc. (NASDAQ:ATRC) – Stock analysts at Piper Sandler boosted their FY2020 earnings per share (EPS) estimates for shares of AtriCure in a report released on Tuesday, July 28th. Piper Sandler analyst M. O’brien now expects that the medical device company will post earnings per share of ($1.36) for the year, up from their prior forecast of ($1.56). Piper Sandler currently has a “Overweight” rating and a $50.00 target price on the stock. Piper Sandler also issued estimates for AtriCure’s Q4 2020 earnings at ($0.25) EPS, Q1 2021 earnings at ($0.33) EPS, Q2 2021 earnings at ($0.30) EPS, Q4 2021 earnings at ($0.18) EPS, FY2021 earnings at ($1.06) EPS, Q1 2022 earnings at ($0.28) EPS, Q2 2022 earnings at ($0.26) EPS and FY2022 earnings at ($0.91) EPS.

Several other equities research analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of AtriCure from a “buy” rating to a “hold” rating in a research report on Tuesday, July 28th. BTIG Research restated a “buy” rating and issued a $56.00 price objective on shares of AtriCure in a research report on Tuesday, July 28th. JPMorgan Chase & Co. raised their price objective on shares of AtriCure from $48.00 to $57.00 and gave the company an “overweight” rating in a research report on Wednesday. SVB Leerink raised their price objective on shares of AtriCure from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Oppenheimer raised their price objective on shares of AtriCure from $45.00 to $52.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. AtriCure has an average rating of “Buy” and an average price target of $48.90.

Shares of AtriCure stock opened at $40.81 on Friday. The stock has a market capitalization of $1.83 billion, a P/E ratio of -31.64 and a beta of 0.81. The company has a quick ratio of 2.43, a current ratio of 7.67 and a debt-to-equity ratio of 0.16. The company has a 50-day simple moving average of $44.89 and a 200 day simple moving average of $40.87. AtriCure has a 12-month low of $22.57 and a 12-month high of $51.76.

AtriCure (NASDAQ:ATRC) last announced its earnings results on Tuesday, July 28th. The medical device company reported ($0.38) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.21. The business had revenue of $40.82 million during the quarter, compared to analysts’ expectations of $36.07 million. AtriCure had a negative net margin of 23.64% and a negative return on equity of 19.55%. The firm’s revenue for the quarter was down 30.7% on a year-over-year basis. During the same quarter last year, the company posted ($0.17) EPS.

Institutional investors and hedge funds have recently made changes to their positions in the business. Meeder Asset Management Inc. lifted its stake in AtriCure by 212.9% in the first quarter. Meeder Asset Management Inc. now owns 1,064 shares of the medical device company’s stock valued at $37,000 after buying an additional 724 shares in the last quarter. BNP Paribas Arbitrage SA raised its holdings in shares of AtriCure by 164.2% in the first quarter. BNP Paribas Arbitrage SA now owns 11,772 shares of the medical device company’s stock valued at $395,000 after purchasing an additional 7,316 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of AtriCure by 11.3% in the first quarter. Rhumbline Advisers now owns 58,421 shares of the medical device company’s stock valued at $1,962,000 after purchasing an additional 5,928 shares during the last quarter. Nuveen Asset Management LLC raised its holdings in shares of AtriCure by 55.2% in the first quarter. Nuveen Asset Management LLC now owns 639,210 shares of the medical device company’s stock valued at $21,471,000 after purchasing an additional 227,431 shares during the last quarter. Finally, Wells Fargo & Company MN raised its holdings in shares of AtriCure by 31.3% in the first quarter. Wells Fargo & Company MN now owns 101,658 shares of the medical device company’s stock valued at $3,414,000 after purchasing an additional 24,221 shares during the last quarter. 89.94% of the stock is currently owned by hedge funds and other institutional investors.

In related news, CEO Michael H. Carrel sold 25,000 shares of AtriCure stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $46.00, for a total transaction of $1,150,000.00. Following the transaction, the chief executive officer now owns 539,147 shares of the company’s stock, valued at approximately $24,800,762. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mark A. Collar sold 4,000 shares of AtriCure stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $44.60, for a total transaction of $178,400.00. Following the transaction, the director now directly owns 81,558 shares in the company, valued at approximately $3,637,486.80. The disclosure for this sale can be found here. Insiders sold a total of 54,000 shares of company stock worth $2,453,400 in the last ninety days. Insiders own 5.80% of the company’s stock.

AtriCure Company Profile

AtriCure, Inc develops, manufactures, and sells devices for the surgical ablation of cardiac tissue and systems to medical centers in the United States and internationally. The company offers Isolator Synergy and Isolator Synergy Access clamps for the treatment of persistent and long-standing persistent atrial fibrillation concomitant to other open-heart surgical procedures; EPi-Sense guided coagulation system used for the coagulation of tissue; and COBRA Fusion surgical ablation system to combine bipolar temperature-controlled radio frequency energy control with monopolar energy.

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Earnings History and Estimates for AtriCure (NASDAQ:ATRC)

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